On September 17, 2020, BIGG Digital Assets Inc. (the Company or BIGG) announced closing of a non-brokered private placement, subject to regulatory approvals, for gross proceeds of $525,000 (the Private Placement) to Indigo IP Holdings Ltd. (Indigo) and a private investor, through the issuance of 2,282,609 units (the Units) of the Company at a price of $0.23 per Unit, each Unit consisting of one common share and one warrant exercisable for one common share at a price of $0.27. An additional 114,130 Units were issued to cover investor costs associated with the Private Placement.
Indigo is an investment arm of Calvin Ayre, a key investor and advocate of Bitcoin SV (Satoshi Vision). Bitcoin SV is the Bitcoin blockchain that follows creator Satoshi Nakamoto's original protocol and design for massive scaling. It recognizes Bitcoin as more than just a digital currency and blockchain, but also a protocol for the world's data network similar to Internet protocol. The Bitcoin SV ecosystem views low fee peer to peer transactions as the core value proposition of the data network and is dedicated to unbounded scaling and massive on-chain transaction throughput by enterprises in pursuit of this goal. Bitcoin SV supporters also identify the value of Bitcoin as an honest, transparent, and auditable ledger.
On July 29, 2020, BIGG announced that Bitcoin SV had been launched as part of the BIG Compliance Suite v1.17 (https://qlue.io/ and https://bitrankverified.com/). Subsequently, Indigo IP declared interest in a strategic investment in BIGG, based on the outstanding quality of the BIG Compliance Suite software and its value to the Bitcoin SV ecosystem.
As part of this investment, Netcoins also plans to list the Bitcoin SV digital currency (BSV) for trading. With the inclusion of Bitcoin SV, Netcoins will have eight digital assets available to its user base.
BLG represented BIGG with a team led by Stephen P. Robertson and included Julie Bogle.